Alex Mashinsky: Bitcoin will reach $ 140,000 by the end of the year

Despite the consolidation of Bitcoin in recent weeks, Celsius CEO Alex Mashinsky is still confident that the price of BTC will reach $ 140,000 or even $ 160,000 by the end of the year. In an interview with Yahoo Finance, Alex Mashinsky stated that the main purpose of Bitcoin is to store wealth. 

"Bitcoin is not very suitable for payments. Conversely, US dollars are great as a means of payment, but they are not suitable for savings. Other cryptocurrencies or stablecoins are better suited for payments. Therefore, you do not need to use Bitcoin to pay for window cleaning or anything like that. Bitcoin is great for savings, and this is how you should use it," 

said CEO Celsius.

According to Mashinsky, if the bulls manage to increase the pressure and go beyond the current channel, then the Bitcoin rate will soar to new record heights, since there are no significant resistances on the chart. By the end of the year, BTC may reach $ 140,000. 

"I think there are strong resistances between $ 40,000 and $ 45,000, but there are not too many resistances above this range. Therefore, we are now consolidating and gaining strength to break above $ 45,000 and reach new heights. I still adhere to my forecast that by the end of the year the BTC rate will be in the range from $140,000 to $160,000," 

says Alex Mashinsky.

In early July, Mashinsky said that by 2023 the capitalization of Ethereum would exceed the capitalization of Bitcoin.